Which money spender are you?

How do you spend your money? What type of money spender are you?

The way we spend our money is reflected by our value towards money and what our parents taught us about money. For example, do you respect money, do you hold onto it or do you give it away freely without a thought?

There is no right or wrong answer here, only what you hold right for you! Even though your loved ones have influenced you during your childhood, you still have a certain way of spending money. You may also find you are a combination of spending types depending on what the situation is for example you may spend money differently when buying a house as compared to buying shoes on sale. This is ok too, we are all individuals and have our own way of spending money.

So I have come up with 4 main spender types! We shall call them… the 4 D’s to spending money:

  1. Direct
  2. Dreamy
  3. Demure
  4. Detailed

Now, let’s break these down so you can get a clearer picture for which one you believe you are when spending your money. And like I mentioned earlier, you can apply this to particular situations, as each one may be different.

When in DIRECT spending mode, money is not the issue. Rather, it is whether it meets your expectations and is value for money. There is nothing that displeases you more, than buying something that does not meet your needs and expectations. You have a high expectation of service and quality when you buy items.

For example, when you are purchasing a new TV you check out online what you are looking at buying. Usually something that is new only just released and exceeds all your expectations. You pop down to the biggest store where you know will have a pre-demo in stock and where you can pre-order the newest and latest TV. Because after all, you are on their VIP list so you are notified of when new products are going to be released. Although you may not necessarily need a new TV, having the latest and greatest TV before everyone else you know is a high priority for you. As you go into this store quite often, they have a fast-track system specifically for you, and you value their outstanding service. You leave the store happy knowing you will receive your new TV delivered to your door before your friends will even know about it.

The DREAMY spender is more around the type of service that is delivered. Having the right salesperson come up to you and associate with you in a way that makes you feel comfortable and relaxed. Especially one that doesn’t mind the odd social chat while shopping. You are not necessarily concerned about the price, as you care more about which is the most popular item at the moment. You want a particular product and will choose one that is most popular.

For example, when you are purchasing a new TV you want what everyone else is having. So you go where your friends and family go to buy TV’s, usually the most popular TV place in your town as supporting your local community is important to you. As fitting in with what everyone else is doing is important to you, you work your way around to the TV’s and notice a sign saying…”Popular TV”. You really don’t care which TV you buy as long as you can watch your favourite TV programs you are set. To have a ‘popular’ TV is important because when your family and friends come over, they can see that you have a similar TV to them – or maybe something a little better! You get excited when the salesperson comes up to ask you for help, as you love to have a good ol’ chat with them and find out their whole life story. The Salesperson and you are getting along fine; they recommend a particular TV to you that is ‘popular’ and you are convinced to buy it. Before you know it, you have a TV that is heavily reduced in price and potentially a store voucher card. You leave the store with your goods and happy with the amazing service you received.

Being DEMURE when spending money means you tend to go to the same store for all you electrical items for example. Before you leave the house, you know what items are on sale and which one you want to buy that is within your budget. You like to shop there because the service is predictable and so is the quality of their goods. You tend to be a little put off if they change the layout of the store as now you have to go on a hunt for the item you want to purchase. You really feel comfortable shopping at your preferred stores, as they know you and you know them.

For example, when you are purchasing a new TV you will firstly set your spending budget based on your family activities. Then you will find out what features everyone wants in this new TV and then look for one that meet these requirements. When you arrive at the shop you know exactly where to go to look at TV’s, so you head straight there. You have a look around at the TV’s within your family budget and look at what features they have in accordance to your family stipulations. The salesperson notices you have been there for a little bit with a puzzled look on your face, and so they come over and ask if you would like some help? You are relieved, as the pressure was getting a bit much and a bit overwhelming because of all the options.

While in DETAILED spending mode you tend to research the item before thinking about purchasing it. You want to know whether it meets your requirements before going out to the store and buying it. The efficiency of the item must meet a certain standard such as the power outage, the durability, the heat radiation rating, the material it is made from, and so on. So knowing in detail, what the product does and will do is important to you when spending money. Ensuring the item will fit where you want it to go is also important to you, because you have a specific standard and requirement for this product or item to meet.

For example, when purchasing a new TV having all the facts before leaving the house in important. Knowing how much you are going to spend, the size, type, features and functions of the TV is an absolute must when spending your money. You want to know that your money is going to be spent on something that is of value to you and meets your needs and expectations. You tend to shop online first to research all the options available, this includes all the pre-release stock and old stock, as this is not important. Armed with your expectations in mind, you set off to a couple different stores to ‘shop around’. Just to make sure that what you are looking for is comparative and whether it is on ‘sale’. Remember value for money is important to you too. You tend to shop at the store that has staff trained in knowing the technical stuff because that is nothing worse than going to a store and the Salesperson not know what the heck they are selling. You give you the facts and information you are after, the Salesperson shows you a couple TV’s that meet your criteria, you choose the one that is most appealing and the sale is complete.

So that concludes the descriptions of Effective Directions 4 main spender types; Direct, Dreamy, Demure & Detailed.

How did you go? Which type were you? Please feel free to comment and share your experience.